Paragraph 1A F1
United Kingdom
Where the I minus E basis is applied for any accounting period in respect of the life assurance business or capital redemption business of any insurance company, this Chapter shall have effect for that period in relation to contracts and options held for the purposes of that business as if the words in subsection (10) of section 150A from “but references” onwards were omitted.
Expressions used in sub-paragraph (1) above and in Part I of Schedule 11 to the Finance Act 1996 have the same meanings in this paragraph as in that Part of that Schedule.
Annotations
Textual amendments
- F1
Sch. 18 paras. 1, 1A and cross-heading substituted for Sch. 18 paras. 1 and 2 (29.4.1996 with effect as mentioned in s. 105(1) of the amending Act) by 1996 c. 8, s. 104, Sch. 14 para. 79 (with savings etc. in Pt. IV Ch. II (ss. 80-105))
Modifications
- C1
Sch. 18 para. 1A(1) modified (23.3.1999) by S.I. 1999/498, reg. 14
Notes on Schedule 18
Textual amendments
- F1
Sch. 18 repealed (with effect as mentioned in s. 83(3) of the amending Act) by Finance Act 2002 (c. 23), s. 141, Sch. 40 Pt. 3(13)
Notes on Application of insurance companies provisions relating to loan relationships
Textual amendments
- F1
Sch. 18 paras. 1, 1A and cross-heading substituted for Sch. 18 paras. 1 and 2 (29.4.1996 with effect as mentioned in s. 105(1) of the amending Act) by 1996 c. 8, s. 104, Sch. 14 para. 79 (with savings etc. in Pt. IV Ch. II (ss. 80-105))